Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Office Space with Freeway Access Title is generated by Realmo AI

    4645 Richmond Rd, Warrensville Heights, OH 44128

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Office space for rent with ample parking and freeway access.

    Type:Office
    Added:
    Sep 10, 2018
    Days on Market:
    2823
    Last Refresh:
    May 19 at 8:39 pm

    Property Features for 4645 Richmond Rd

    General Information

    Standard status
    Active
    Property subtype
    Office

    Spaces For Lease

    at 4645 Richmond Rd Contact us

    We can help!

    Listing Contact
    Deborah Maggard

    Listing agent Deborah Maggard License #OH SAL.0000312548

    Listing office NAI Pleasant Valley

    Listing date Sep 10, 2018

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of NAI Pleasant Valley

    HighLights

    • Great value at $12.00/SF modified gross
    • Ample free parking
    • Easy freeway access to I‑271 & I‑480
    • Close proximity to Chagrin Corridor amenities
    • 20 minutes from Downtown Cleveland
    • Potential signage available

    Overview

    This office space is available for rent at $12.00 per square foot on a modified gross lease. The location provides ample free parking and easy access to I-271 and I-480. Downtown Cleveland is approximately 20 minutes away. The property is located in close proximity to Chagrin Corridor amenities and is on the RTA bus line. Potential signage opportunities are available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Warrensville Heights
    County
    Cuyahoga
    State
    Ohio
    Longitude
    -81.5396
    Latitude
    41.4368

    Nearby Similar for Lease

    • $6 SF/Yr
      7,950 SF

      Renovated Warehouse with Flexible Loading

      Warehouse space with loading docks, drive-in doors, and recent renovations.
      4310-4340 Cranwood Pkwy, Warrensville Heights, OH
      View Details
    • $6 SF/Yr
      7,770 SF

      Industrial Space Near Major Highways

      Functional warehouse space with convenient highway access in Warrensville Heights.
      4335 Cranwood Pkwy , Warrensville Heights, OH
      View Details
    • $7 SF/Yr
      6,390 SF

      Industrial Flex Space Available

      Industrial flex space for rent with loading docks and drive-ins.
      4853 Galaxy Pkwy , Warrensville Heights, OH
      View Details
    • $3 SF/Yr
      140,000 SF

      Warrensville Heights Warehouse Space Available

      140,000 SF warehouse with excellent highway access.
      18450 South Miles Road, Warrensville Heights, OH, 44128
      View Details
    • $7 SF/Yr
      215,000 SF

      Industrial Space with Freeway Access

      Industrial property with versatile configurations and convenient loading.
      4829-4949 Galaxy Parkway and 25111-15221 Miles Rd., Warrensville Heights, OH
      View Details
    • Contact for pricing
      10,120 SF

      Office Space Near Major Highways

      Office space with excellent highway access and nearby amenities.
      4834 Richmond Rd , Warrensville Heights, OH
      View Details
    • $3 SF/Yr
      140,000 SF

      Warehouse Space Near Amazon Hub

      140,000 SF warehouse with excellent highway access.
      18450 S Miles Rd, Warrensville Heights, OH
      View Details
    • $13 SF/Yr
      3,000 SF

      Modern Office Space For Rent

      Modern office space with built-in cubicle and convenient parking.
      26110 Emery Rd , Warrensville Heights, OH
      View Details
    • $22 SF/Yr

      Prestigious Office Space Available

      Conveniently located office space in a prominent building.
      2000 Auburn Drive, One Chagrin Highlands Suite, Warrensville Heights, OH 44122
      View Details
    • Contact for pricing
      2,402 SF

      Retail Space in Harvard Park

      Retail space available within a busy shopping center.
      4025-4095 Richmond Rd, Warrensville Heights, OH
      View Details
    • Contact for pricing
      1,710 SF

      Restaurant with Drive Thru Available

      Restaurant space with drive-thru and beer/wine license available for rent.
      22483 Emery Rd, Warrensville Heights, OH
      View Details
    • $4 SF/Yr
      10,000 SF

      Renovated Warehouse with Drive-In Door

      Clean, renovated warehouse space with ample power and customizable offices.
      19201 Cranwood Pkwy, Warrensville Heights, OH
      View Details

    FAQs

    What type of property is this?
    Office units - Office space for rent with ample parking and freeway access.
    Where is this office units located?
    The property is located at 4645 Richmond Rd Warrensville Heights, OH.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Great value at $12.00/SF modified gross; Ample free parking; Easy freeway access to I‑271 & I‑480
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Deborah Maggard
    Real Estate License ID: OH SAL.0000312548
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    4645 Richmond Rd, Warrensville Heights, OH 44128
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!